In 2024, 27% of small businesses relied on credit cards, with 33% using them for over 25% of monthly expenses, highlighting restricted access to affordable loans amid rising interest rates. Intuit QuickBooks advises SMEs to adopt financial planning, digital tools, and accountant support to improve credit access, as limited financing hampers growth, innovation, and economic recovery.
In 2024, 27% of small businesses relied on credit cards, with 33% using them for over 25% of monthly expenses, highlighting restricted access to affordable loans amid rising interest rates. Intuit QuickBooks advises SMEs to adopt financial planning, digital tools, and accountant support to improve credit access, as limited financing hampers growth, innovation, and economic recovery.